Friday, September 25, 2015

9/25/15 - AM Update

[6:43 AM] - The bears got their fifth wave near term (5 min chart). This would complete wave i of v on the 60 min chart. A three wave bounce is expected with wave a near completion.

One can setup a long trade once wave b completes its pullback. A wave c higher may target 1965-1978. This is for the 5 min chart.

This trade may also work for the 60 min chart since the running flat for wave b is still legit. A wave c move higher on the 60 min chart targets 2020-2040.

Stop would be set at 1908. Don't forget the 60 min chart still has 1860 and lower as a target for wave v.
5 Min 

60 Min 

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